12 Responses to Five biggest U.S. banks craft ‘living wills’ in case they go out of business

  1. ONTHEMARK55 says:

    All part of the plan to steal the individual wealth and destroy the middle class of America. Create a “let the good times roll” bubble economy inflate real estate and corporate values(individual homes have $50-100,000 equities, corporations that have never made a profit are worth $1 billon) allowing people to 2nd mortgage(variable rates) borrow from 401k retirements to buy stocks,day trade at home, (everyone’s a financial wizard)) pay back later with profits and ever increasing home equities, a little short, credit card’s now, pay off later. 7 year car loans, no problem, $40,000 a year college tuition, no problem, support multifront wars, no problem, what can go wrong? September 1st, 2008, private sector wealth, gone. What’s left, Goverment tax revenue, corporate/banking bailouts,(remember how hard the Bush administartion pushed to “privatize” social security so people could invest), tax revenue gone. What’s left, stagnate economy, high unemployment, civil,social unrest, political gridlock, what can go wrong, economic collapse, destruction of middle class, social/political upheavel, what’s left, Welcome to the NWO! I know it sounds crazy but this isn’t the 30’s type of depression. We’re seeing the type of “RICH” that hasn’t been seen since the times of the Dutch East India Company and the British Empire. Corporation that could wage war, private currencey,colonize, judge,jury,hangman! Mansion, phhft.. we’re talkin palace!. Yacht, phhft, we’re talkin fleet! Well, gotta go, that darned tinfoil underwear and hat are getting uncomfortable, God Bless

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    • Dennis E. says:

      Ontthemark55: Dennis E. Here.
      As has been posted before and blogged on this site, there was frenzy in the 80’s to invest in the stock market, primarily mutual funds and of course individual stock purchases.
      They took advantage of our greed for more and set up the environment for people to invest and set in place 401k’s for that purpose. Some people who invested, did so to have a life in retirement,regarding income and comfort, as they received from their work income.
      That was a practical plan. Most people were putting into the pot. They took monies out of CD’s from banks and credit unions and under the advise of a fund manager, invested and went on their merry way, well some did.
      I left the market in 1998 because I knew this day was coming. I knew this day was coming because I read commentaries by Men of God, blessed in knowledge of such matters who said this was coming. I weighed it and made a decision. You are so right in regard to credit cards, a modern form of slavery. In regard to the privatize social security, I advised my family not to do that because again, they wanted us to invest. I am not a financial
      expert, but to anybody who reads this blog, research, read, research, mediate, pray about, ask questions, research, look at options,learn how the market works or how anything works …… Many people now do not have a rainy day account, that is if they needed 1,000 right now, they could not do it without putting it on a credit card.
      Do as you want, but, I would consider a family meeting over the dinner table to include children and tell them the score and work as hard as possible to clear what credit cards I could. The worst is yet to come. There is another wave coming according to those in the know. No need to panic, form a plan and and put it in motion…….

      Just my opinion, may not reflect yours but we are free to make our own choices.
      Not telling anyone what to do, I have learned much from what has been posted and blogged……

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    • Roshea1956 says:

      I don’t understand half what I read in the story but your info helped, thanks. Whenever I read banks and their “stories” they always use mumbo-jumbo but I smell a rat everytime..God forgive us and help us to turn back to you!

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  2. cossack55 says:

    Would not “living dead wills” be a little more accurate? Oh, and BTW, I believe the JPM losses are currently $9 billion and will rise much higher as they unwind their IG9 exposure. Of course, we will never learn the TRUE amount, FASB/GAAP suspensions and all the other chicanery.

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  3. Dennis E. says:

    I don’t know about the rest of you, a living will is a good idea to have for a love one and for yourself.
    But for your bank, if you bank there,it is a bit more serious situation.

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  4. Cody Stewart says:

    We’re about to see an economic depression like we’ve never seen before. The entire global economy is going to crash, and crash hard. The day that the dollar is devalued as the world’s reserve currancy, we are done for.

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  5. Val says:

    does this mean if you have any money in the bank,you should spend it because it won’t be worth anything later?

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    • tonic says:

      Val, this is an extremely difficult question, and not one many would want to answer, including me. I will just say consider (and only consider at lenght) the word convert.

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  6. John says:

    This is definite a sign that the end of civilization as we know it is getting near. Start prepping folks. The time is getting short. There are so many dangers facing us all at the same time right now: Fukashima Reactor #4, coronal mass ejections from the sun, economic collapses, a sitting president who wants to be king, and so on. It’s all unraveling. It’s all coming undone. Get your preps in order. We don’t have to much time left.

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  7. molassis says:

    Kinda sucks to not be able to prep…. but hey… God’s still on the Throne and as long as HE sits on the throne… the family and I will be fine! Thank you Lord!!!

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  8. Emanni says:

    “government-mandated contingency plans,” “designed to end too-big-to-fail bailouts by the government.”

    Putting things in a visual perspective. Without the “mumbo-jumbo.”

    Derivatives: The Unregulated Global Casino for Banks

    http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html

    The European Super Highway of Debt

    http://demonocracy.info/infographics/eu/debt_piigs/debt_piigs.html

    Global Financial Crisis: A World In Debt

    http://demonocracy.info/infographics/usa/world_debt/world_debt.html

    US Debt Visualized in $100 Bills

    http://demonocracy.info/infographics/usa/us_debt/us_debt.html

    US Tax Revenue & Deficit

    http://demonocracy.info/infographics/usa/us_deficit/us_deficit.html

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